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  • WASHINGTON, Jan 28- U.S. women's paychecks will not catch up to men's for another 40 years at the current rate of improvement, experts say, a situation U.S. president Barack Obama highlighted in his State of the Union address, calling for policy changes he hopes will close the gap sooner.

  • *Fed to reduce stimulus by another $10 billion per month. *Boeing, Yahoo shares fall after results; Facebook up late. NEW YORK, Jan 29- U.S. stocks dropped more than 1 percent on Wednesday, hitting session lows after the Federal Reserve stuck with its plan to scale back stimulus even in the midst of emerging market turmoil.

  • Jan 29- Detroit's creditors got their first look Wednesday at the city's proposed plan to adjust its debt and emerge from bankruptcy, though no details were immediately available.

  • *Adjusted earnings per share C $1.91 vs estimated C $1.95. TORONTO, Jan 29- Canadian Pacific Railway, the country's second largest railroad, reported record quarterly results on Wednesday despite taking a hit from extreme winter weather in December.

  • *Reduces monthly bond purchases by $10 billion, as expected. WASHINGTON, Jan 29- The Federal Reserve on Wednesday decided to trim its bond purchases by another $10 billion as it stuck to a plan to wind down its extraordinary economic stimulus despite recent turmoil in emerging markets.

  • UPDATE 2-YOUR MONEY-Is myRA for me? Wednesday, 29 Jan 2014 | 5:10 PM ET

    NEW YORK, Jan 29- President Obama' s proposal for myRA, a new retirement savings vehicle, took up only a few moments of Tuesday's State of the Union address, prompting more questions than answers. After an individual accumulates $15,000, the account would roll over into a traditional individual retirement account.

  • SAN FRANCISCO, Jan 29- Facebook Inc's fourth-quarter revenue jumped 63 percent, beating Wall Street targets, as the Internet company's mobile ad sales continued to accelerate. Shares of Facebook surged 10 percent to $58.90 in after-hours trading on Wednesday.

  • SAN FRANCISCO, Jan 29- Leading mobile chipmaker Qualcomm Inc posted higher fiscal first-quarter revenue that slightly missed expectations as smartphone growth shifted to China but it bumped up its full-year earnings outlook on the strong start to 2014..

  • WASHINGTON, Jan 29- The emerging market countries taking tough action on reforms and managing their economies well are having an easier ride in the current market selloff, U.S.

  • NEW YORK, Jan 29- China's Lenovo Group is nearing a deal to buy Google Inc's Motorola handset division for close to $3 billion, people familiar with the matter told Reuters on Wednesday, buying its way into a heavily competitive U.S. handset market dominated by Apple Inc..

  • NEW YORK, Jan 29- U.S. The Fed announced a further $10 billion cut in its monthly bond purchases in a statement after its two-day policy meeting, reducing its monthly bond-buying to $65 billion per month starting in February.

  • Jan 29- Ben Bernanke's parting gift to emerging markets was some tacit advice they should have understood all along: you are on your own.

  • MEXICO CITY, Jan 29- Mexico's state-run oil company Pemex has found light crude at an ultra-deep water well in the Perdido Fold Belt in the Gulf of Mexico, near the maritime border with the United States, a senior company official said in an interview on Wednesday.

  • UPDATE 1-YOUR MONEY-Is myRA for me? Wednesday, 29 Jan 2014 | 4:50 PM ET

    NEW YORK, Jan 29- President Obama' s proposal for myRA, a new retirement savings vehicle, took up only a few moments of Tuesday's State of the Union address, prompting more questions than answers. After an individual accumulates $15,000, the account would roll over into a traditional individual retirement account.

  • Detroit sends debt adjustment plan to creditors Wednesday, 29 Jan 2014 | 4:44 PM ET

    Jan 29- Detroit Emergency Manager Kevyn Orr on Wednesday presented a proposed debt adjustment plan to city creditors participating in court-ordered mediation that he said provides "fair and equitable treatment" for all parties, the city said in a statement.

  • LOS ANGELES, Jan 29- Starbucks Corp Chief Executive Officer Howard Schultz on Wednesday said he was promoting Chief Financial Officer Troy Alstead to the new position of chief operating officer, allowing Schultz to focus on expanding the coffee shop chain's e-commerce business, particularly mobile payments.

  • NEW YORK, Jan 29- Puerto Rico's Economic Activity Index for December will likely show further declines in business conditions, weak index component readings suggested, which would add to the growing unease over the cash-strapped island's weak financial and economic outlook.

  • SAN FRANCISCO, Jan 29- Facebook Inc's fourth-quarter revenue jumped 63 percent, beating Wall Street targets, as the Internet company's mobile ad sales continued to accelerate. Shares of Facebook were up 7 percent at $57.36 in after-hours trading on Wednesday.

  • MEXICO CITY, Jan 29- Mexico's central bank is weighing whether monetary policy needs adjusting after a spike in inflation, but price pressures should recede this year without higher rates, bank governor Agustin Carstens said in an interview published on Wednesday.

  • HOUSTON, Jan 29- Marathon Petroleum Corp, Valero Energy Corp and Phillips 66, the three largest U.S. independent refiners, reported quarterly results on Wednesday that topped Wall Street estimates as cheaper crude prices and rising exports helped profits.